$62.95 Million in Sales Expected for Kornit Digital Ltd. (NASDAQ:KRNT) This Quarter


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Equities research analysts expect that Kornit Digital Ltd. (NASDAQ:KRNT) will report sales of $62.95 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Kornit Digital’s earnings, with the lowest sales estimate coming in at $62.90 million and the highest estimate coming in at $63.00 million. Kornit Digital reported sales of $26.21 million in the same quarter last year, which would suggest a positive year over year growth rate of 140.2%. The company is expected to report its next quarterly earnings report on Tuesday, May 18th.

On average, analysts expect that Kornit Digital will report full-year sales of $276.15 million for the current fiscal year, with estimates ranging from $274.00 million to $278.30 million. For the next year, analysts expect that the business will post sales of $342.95 million, with estimates ranging from $338.00 million to $347.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Monday, February 15th. The industrial products company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Kornit Digital had a negative net margin of 3.49% and a negative return on equity of 1.05%.

A number of research analysts recently commented on the stock. Craig Hallum raised shares of Kornit Digital from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Wednesday, February 17th. Citigroup raised their price objective on Kornit Digital from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 25th. Needham & Company LLC boosted their target price on Kornit Digital from $76.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 17th. The Goldman Sachs Group upgraded Kornit Digital from a “neutral” rating to a “buy” rating and raised their price target for the stock from $83.00 to $135.00 in a research report on Wednesday, February 17th. Finally, Smith Barney Citigroup boosted their price objective on shares of Kornit Digital from $70.00 to $100.00 in a research report on Monday, December 21st. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $115.44.

Several large investors have recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in shares of Kornit Digital by 16.5% in the third quarter. LPL Financial LLC now owns 7,457 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 1,054 shares during the last quarter. Morgan Stanley grew its stake in Kornit Digital by 59.7% in the 3rd quarter. Morgan Stanley now owns 12,979 shares of the industrial products company’s stock worth $842,000 after acquiring an additional 4,851 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Kornit Digital by 184.4% during the third quarter. Advisors Asset Management Inc. now owns 12,102 shares of the industrial products company’s stock worth $785,000 after acquiring an additional 7,846 shares during the period. ExodusPoint Capital Management LP bought a new stake in shares of Kornit Digital during the third quarter valued at approximately $333,000. Finally, State of Tennessee Treasury Department boosted its holdings in shares of Kornit Digital by 66.6% in the third quarter. State of Tennessee Treasury Department now owns 62,922 shares of the industrial products company’s stock valued at $4,082,000 after purchasing an additional 25,156 shares during the period.

Shares of NASDAQ:KRNT opened at $100.79 on Thursday. The firm has a fifty day simple moving average of $104.05 and a two-hundred day simple moving average of $86.71. Kornit Digital has a 52 week low of $24.09 and a 52 week high of $125.00. The stock has a market capitalization of $4.64 billion, a P/E ratio of -629.94 and a beta of 1.70.

About Kornit Digital

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry worldwide. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services.

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